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1. Lupita wants to buy a car that costs $32,000. When she buys the car, she will pay 9.1% sales tax (on the purchase price),

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1. Lupita wants to buy a car that costs $32,000. When she buys the car, she will pay 9.1% sales tax (on the purchase price), $150 in dealer fees, and $75 in finance/titling fees. She currently has $3472 saved up for the purchase of the car. She will apply her savings and intends on taking out a loan out with her credit union for the balance needed to pay for the car, tax and fees. If the credit union will charge her 3.14% interest, how much will her monthly payment be if she finances this loan for 5 years? How much interest will Lupita pay in total on the borrowed money? 2. Suppose that Lupita gets a raise at work after 12 months and increases her payments to pay the loan off early. If she begins making payments of $650, beginning 12 months after she takes out the loan, how many years will Lupita take to pay off her car? Upload Choose a File

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